"In accordance with the company's bonus policy, if a worker's basic salary plus Dearness Allowance (DA) amounts to less than 21,000 rupees, but when including House Rent Allowance (HRA) and other allowances, the total exceeds 21,000 rupees, is the worker eligible for a bonus? If so, what percentage of bonus payment does the company intend to allocate to such eligible workers?"
From India, New Delhi
Acknowledge(0)
Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Hi,
Bonus is an entitlement under prescribed conditions as per the Payment of Bonus Act, 1965. The calculation of the bonus payable is determined by a specific formula and guidelines outlined in the Payment of Bonus Act. Companies are obligated to disburse bonuses according to the provided formula. The minimum bonus is 8.33%, and the maximum is 20% of the bonus fund calculated for the particular financial year.
Regards,
RDS Yadav
Director,
Future Institute of Engineering and Management Technology, Bareilly
and
Labour Laws Adviser
NAVTARANG HR SERVICES
WA-09634532026
From India, New Delhi
Acknowledge(0)Amend(0)
4Bonus is an entitlement under prescribed conditions as per the Payment of Bonus Act, 1965. The calculation of the bonus payable is determined by a specific formula and guidelines outlined in the Payment of Bonus Act. Companies are obligated to disburse bonuses according to the provided formula. The minimum bonus is 8.33%, and the maximum is 20% of the bonus fund calculated for the particular financial year.
Regards,
RDS Yadav
Director,
Future Institute of Engineering and Management Technology, Bareilly
and
Labour Laws Adviser
NAVTARANG HR SERVICES
WA-09634532026
From India, New Delhi
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.